Daily NAPTA Update 04.15.2024

Posted by Diane Macri | Apr 15, 2024 | 0 Comments

Bad times for big cities

Business Insider

Boston has a bit of a budget problem. The rise in remote work has caused a slow and steady decline in commercial real-estate prices, and, as a result, property-tax revenue is falling, leaving the city facing a $1 billion tax deficit over the next five years. The same issue, coupled with a persistent decline in tourism, is weighing on San Francisco's finances.

Jefferson County assessor warned against nepotism

PB Commercial

Jefferson County Attorney Terry Wynne warned County Assessor Gloria Tillman "the assistance of the criminal authorities" will be sought if she reportedly continues to violate state law and a county ordinance against nepotism.

Florida’s Live Local Act Affordable Housing Property Tax Exemption Amended to Allow Tax Jurisdictions to Opt Out

Nat Law Review

Florida's Live Local Act was amended during the 2024 legislative session to allow local governments to opt out of the middle-income affordable housing exemption1 with a two-thirds vote of the governing body if the county has an adequate supply of affordable housing units.

Property taxes rising, yet appeals are few

Chicago Tribune

Property values in Northwest Indiana have been on the upswing in recent years, yet very few people are making use of the property tax appeals process. As people begin receiving their property tax bills for 2023 payable in 2024, Lake County Assessor LaTonya Spearman wants to ensure property owners know they have options when it comes to their property tax assessments when they do not agree.

La. Board Says Private Foundation Buildings Are Tax-Exempt

Law360 Tax Authority

The Louisiana tax appeals board ruled that four buildings owned by a private foundation and leased to commercial tenants are exempt from property tax, as they support research opportunities at the...

The city whose 'doom loop' just might be worse than San Francisco's

Business Insider

A vacant office building in downtown St. Louis just sold for $3.6 million — a nearly 98% discount from its 2006 sales price, signaling a concerning course for the Midwestern city's downtown area. The former One AT&T Center, which at 44 stories is the third-tallest building in St. Louis, sold for $205 million in 2006 and recently sold for $3.6 million to the Goldman Group, a real-estate investment firm.

Pittsburgh's challenges of tax-exempt status unlikely to be successful, experts say

Post Gazette

When Pittsburgh Mayor Ed Gainey recently announced the city would challenge the tax-exempt status of more than 100 parcels of land, it was branded as a way to get the largest local nonprofit organizations to "pay their fair share."

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